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KPMG Fined $4.3 Million for Serious Failure in Rolls-Royce Audit, Fined $848 Million for Bribes to Land Contracts

27th May 2022 | Hong Kong

KPMG has been fined $4.3 million (GBP 3.4 million) for serious failure in Rolls-Royce audit, with Roll-Royce being fined $848 million (GBP 671 million) in 2017 for paying in bribes to land contracts.  The United Kingdom Financial Reporting Council (FRC) has also fined KPMG partner Anthony Sykes (led the audit) $141,000 (GBP 112,500) and gave a severe reprimand ahead of his retirement from KPMG in Q3 2022.  Rolls-Royce is one of the world’s leading aerospace and defence manufacturer.  During the audit, KPMG did not reference the “payments” for bribery in July 2010.  

“ KPMG Fined $4.3 Million for Serious Failure in Rolls-Royce Audit, Fined $848 Million for Bribes to Land Contracts “

 



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